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2005, 2019

Research and Development tax credits explained

By |May 20th, 2019|Categories: Blog, Contracting|0 Comments

The government wants UK companies to succeed. It’s great for employment and training and overall successful companies boost the economy. To help companies be successful the government provides an incentive in the form of tax credits, to companies who are involved in innovation. This incentive is provided through Research and Development (R&D) tax credits and this article explains what they [...]

1605, 2019

The £85,000 FSCS protection and how it applies to your ltd company bank account

By |May 16th, 2019|Categories: Blog, Contracting, Finance|Tags: , , , , |0 Comments

With the collapse of Northern Rock, Bradford & Bingley, Icelandic banks and others now over 10 years ago, savers should still be thinking “Is my money safe?” As your business grows, it is likely the cash you hold in the company bank account will grow too. Any cash deposited with a bank or building society that is authorised by the [...]

1305, 2019

What taxes do I need to pay as a contractor?

By |May 13th, 2019|Categories: Blog, Contracting, Finance|Tags: , , , , |0 Comments

Leaving the world of employment and stepping out on your own as an independent contractor is both exhilarating and terrifying.  One of the biggest challenges you’ll face initially is getting your head around what taxes you need to pay. We always recommend that contractors engage with an experienced contractor accountant (like ourselves for instance!) but you shouldn’t solely rely on [...]

805, 2019

What do you need to know about Entrepreneurs Relief?

By |May 8th, 2019|Categories: Blog, Finance, Top Tips|Tags: , , , , , , , |0 Comments

On closure of a company, retained reserves (net profit after the payment of Corporation Tax) in a company can be distributed as a "capital distribution". The owners of small businesses may be entitled to entrepreneurs' relief when they sell or close down their business. What does entrepreneurs relief do? The relief delivers a 10% tax rate for up to the [...]

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